New WLB member Keith Blackshire of Chrysalis Partners takes a look at common marketing mistakes that are costing SMEs lost revenue every day…
26 Marketing Issues That Can Cripple Your Business And How To Avoid Them
We see it every day. People making marketing mistakes. It’s not that they’re doing it on purpose. No. In fact these mistakes are being made because people simply don’t realise that what they’re doing is having a detrimental effect on their businesses.
Call it ignorance, lack of knowledge, or even lack of marketing savvy. Call it what you like – the reality is that almost every business is making many of these mistakes. Statistics tell us that 60 percent of businesses go out of business the first year they’re in business. And of those that remain, 80 percent of them will not be in business five years from now. That’s a worrying but true statistic!
Yet, even with what seems like an almost impossible task, people still take their dreams into the marketplace with little or no planning, and with little or no regard for the harshness and cruelty of what the marketplace can bring, without proper planning and ‘marketing savvy.’ In fact the success and failure of any business is almost entirely down to how a business lacks effective marketing – and not down to how good the product or service is – or indeed the people in the business!
So what do we mean by effective marketing? To be precise, effective marketing is the ability of the business to consistently and repeatedly get people to buy the products or services they sell and extract as much profit out of each customer over the duration of the relationship.
By looking at the greatest mistakes people are making every day, you’ll get an appreciation on why they’re failing. You’ll be able to spot the mistakes before they happen. And you’ll ultimately be in a position to transform each mistake into a powerful marketing strategy that generates windfall profits the moment you take action!
As you read through each mistake, think about your business, and see how you’re doing in each of the areas.
For an initial discussion with Keith about marketing your SME effectively, e-mail firstname.lastname@example.org or call 0203 823 8974